Tyson Foods Inc.’s stock surged after reporting better-than-expected third-quarter results. Adjusted earnings of 91 cents per share beat analyst estimates. Revenue grew 4% to $13.88 billion, exceeding expectations. GAAP earnings dropped to 17 cents per share due to a $343 million goodwill impairment in the Beef segment. Adjusted operating income rose 3% to $505 million.

Beef segment sales increased 6.9% to $5.6 billion, but posted a GAAP operating loss of $494 million. Pork revenue rose 3% to $1.51 billion with $36 million in adjusted operating income. Chicken revenue climbed to $4.22 billion with $345 million in adjusted operating income. Prepared Foods revenue reached $2.52 billion with $246 million in adjusted operating income.

For the first nine months, sales grew 2.1% to $40.58 billion. Adjusted EPS rose 36% to $2.97, while adjusted operating income grew 28% to $1.68 billion. Operating cash flow fell to $1.62 billion, and free cash flow declined to $929 million. Tyson raised full-year fiscal 2025 sales guidance to $54.38 billion–$54.91 billion.

Tyson anticipates an adjusted operating loss in its Beef segment, but adjusted operating income for Pork, Chicken, and Prepared Foods is expected to be positive. Tyson shares were trading higher by 4.24% at $54.76. The U.S. Department of Agriculture projects flat domestic protein production in fiscal 2025 compared to fiscal 2024.

Read more at Yahoo Finance: Tyson Foods Raises Outlook As CEO Highlights Resilient Protein Portfolio